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Mar 31, 2020
ACADIA Q1 2020 Earnings Report
Reported strong first quarter results with NUPLAZID sales increasing by 43% year-over-year and provided revised 2020 financial guidance due to the anticipated impact of COVID-19.
Key Takeaways
ACADIA Pharmaceuticals reported a net sales increase of 43% for NUPLAZID in Q1 2020 compared to Q1 2019. The company is on track to submit a supplemental NDA for pimavanserin for the treatment of dementia-related psychosis this summer. Due to the anticipated COVID-19 impact, ACADIA reduced its 2020 revenue guidance by approximately 5%.
NUPLAZID net sales were $90.1 million, a 43% increase over Q1 2019.
On track to submit supplemental NDA for pimavanserin for the treatment of dementia-related psychosis (DRP) this summer.
Entered into a worldwide license agreement and collaboration with Vanderbilt University for a new central nervous system (CNS) therapeutic program.
2020 revenue guidance reduced by approximately 5% due to the anticipated COVID-19 impact.
Revenue by Segment
Forward Guidance
ACADIA is revising 2020 net sales and expense guidance to reflect the currently anticipated impact of the COVID-19 pandemic. ACADIA’s 2020 net sales guidance reflects annual revenue growth of approximately 28% for NUPLAZID, at the mid-point of the range.
Positive Outlook
- GAAP R&D guidance of $270 to $285 million is unchanged from prior guidance.
- Non-cash stock-based compensation expense guidance of $90 to $100 million is unchanged compared to prior guidance.
- 2020 year-end cash, cash equivalents, and investment securities of $470 to $500 million is unchanged compared to prior guidance.
Challenges Ahead
- NUPLAZID net sales guidance is decreased to $420 to $450 million from the previous range of $440 to $470 million.
- GAAP SG&A guidance is decreased to $425 to $445 million from the previous range of $440 to $460 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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